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H.R. 5303, Water Resources Development Act of 2016 1 (September 22, 2016)

handle is hein.congrec/cbo3166 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE September 22, 2016 H.R. 5303 Water Resources Development Act of 2016 As ordered reported by the House Committee on Transportation and Infrastructure on May 25, 2016 SUMMARY H.R. 5303 would authorize the U.S. Army Corps of Engineers (Corps) to construct projects to mitigate storm and hurricane damage, to improve navigation and flood management, and to restore estuaries. CBO estimates, that implementing this legislation would cost about $970 million over the next five years and $3.1 billion over the 2017-2026 period, assuming appropriation of the authorized and necessary amounts. Because enacting H.R. 5303 would not affect direct spending or revenues over the 2017-2026 period, pay-as-you-go procedures do not apply. CBO estimates that enacting the bill would increase net direct spending and on-budget deficits by more than $5 billion in at least one of the four consecutive 10-year periods beginning in 2027. The legislation would increase direct spending, beginning in fiscal year 2027, by authorizing the Corps to spend amounts in the Harbor Maintenance Trust Fund without further appropriation. H.R. 5303 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA) and would impose no costs on state, local, or tribal governments. ESTIMATED COST TO THE FEDERAL GOVERNMENT The estimated budgetary effects of H.R. 5303 are shown in the table below The costs of this legislation fall within budget function 300 (natural resources and environment).

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